Day Traders Prep for Personal Income & Manufacturing Data

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The James’ Report:  Day Trading Strategies for Professional Traders

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Actions without Expectations is the true path to day trading success.  Like the farmer who plants his seeds in the spring and harvests in the fall;  the farmer expects to see a good crop, however, he does not know when or how large the crop will grow to harvest.  An experienced farmer, much like professional traders, will reap what they sow, and they do the very best they can to put the best seeds in the ground at the correct time to expect the best results.  What seeds are you putting in the ground today that you have expectations will yield a crop tomorrow?

What happened Overnight:

– Following Friday’s gains, European equity indices opened today’ session slightly higher ahead of Friday’s US non-farm payrolls data. Markets have since moved off of the best levels, as French equities have lagged amid continued concerns about the country’s presidential elections. Additionally, France’s credit default swaps have moved slightly higher on the session. Spain’s IBEX-35 has also underperformed as data confirmed that the country entered a technical recession in Q1. Also, there is renewed speculation that Spain’s government is seeking to ring fence certain non-performing assets of domestic banks. Banks are trading mixed, as ECB data showed that Spanish and Italian banks continued to increase their purchases of sovereign debt in March. 

– Spain Q1 Preliminary GDP better than expected but country in a technical recession